Globe Group Showcases Transformation from Telco to Techco at 2023 Singapore Fintech Festival
The Globe Group is set to mark its presence at the 2023 Singapore Fintech Festival (SFF) from November 15 to 17, organized by the Monetary Authority of Singapore and Elevandi. This global fintech event, attracting thousands of participants worldwide, will witness the Globe Group sharing its transformative journey from a traditional telecom company to a dynamic technology company.
A key highlight of the festival will be a panel discussion titled “Building Unicorns: An ASEAN Success Story,” featuring Globe Group President and CEO Ernest Cu and Mynt President and CEO Martha Sazon.
Ernest Cu expressed enthusiasm about demonstrating how the company’s pivot from telco to techco is not just about business growth but about making a tangible difference in the daily lives of Filipinos. Globe’s evolution is underscored by remarkable financial growth, with a 44% year-on-year increase in non-telco revenues, reaching PHP4.1 billion in the first three quarters of 2023.
A pivotal success story within the Globe Group is GCash, operated by Mynt, emerging as the Philippines’ only double unicorn. GCash’s net earnings surged to PHP1.62 billion in the first nine months of 2023, reflecting a 149% increase from the previous year.
Martha Sazon emphasized that GCash stands as a testament to the company’s customer-first approach and technological innovation. The panel discussion at SFF will provide insights into creating inclusive financial solutions for millions of Filipinos.
Furthermore, KonsultaMD, a part of the 917Ventures portfolio, is positioned as a potential unicorn, expanding into a superapp this year, offering comprehensive healthcare services to over 2 million Filipinos.
Globe’s collaboration with Gogoro of Taiwan in introducing two-wheel Smartscooters® and its venture into the growing data center business through a partnership with ST Telemedia Global Data Centres also highlight the company’s diversification beyond telecommunications.
Globe’s shift from telco to techco is evident in its diversified portfolio, extending into fintech, virtual healthcare, e-commerce, business outsourcing, adtech, edutech, climate tech, media, and entertainment. The company’s participation at the SFF reaffirms its position as a key player in the ASEAN region’s tech landscape.